These are the top 5 cryptocurrencies for beginners
As a new crypto trader, I've been intrigued about how beginners come into crypto, how they get started, and what barriers the sector imposes on the curious. At Ziglu, we understand the need of trading in little quantities, safely, and with caution. We all know that knowing the risks is critical when it comes to investing. In the United Kingdom, cryptocurrency is unregulated, and the value of assets might go up as well as down. Capital Gains Tax may apply to any gains produced. But where do you begin when purchasing cryptocurrency?
We decided to investigate which cryptocurrencies were the best for beginning traders. Popularity, growth, unique features, security, environmental impact, and the teams behind each coin or token all played a role in their inclusion.
When it comes to investing into a digital currency, what's the best crypto for beginners?
The popularity of cryptocurrency continues to grow, with more 'everyday investors,' many of whom are complete beginners, reaping the perks and reaping the rewards.
While Bitcoin may have signaled the beginning of disruptive, decentralized finance in 2009, countless other cryptocurrencies have since emerged, each with its own price, availability, demand, transaction speed, fees, and underlying technology.
We recognize that wading through complicated jargon can be daunting, and we also understand that we can't advise our consumers on which cryptocurrency to invest in. However, we can keep things simple by selecting what we believe are the finest currencies based on market capitalization (the total value of all coins currently in circulation) and long-term development potential*.
Here’s a brief overview of a few cryptocurrencies currently popular with our new and everyday investors:
Bitcoin (BTC)
- Overview
Bitcoin, the first and most well-known cryptocurrency, has grown in popularity (and market capitalization) since Satoshi Nakamoto founded it surreptitiously in 2009.
Price and market cap over last quarter
$50,667.65 - $38,059.90
$954.31B - $735.15B
Pros and cons of bitcoin
Pros: It's the most accessible cryptocurrency, as well as the one with the largest liquidity.
Cons: Beginner investors may be put off by Bitcoin's notorious volatility.
How it works
Bitcoin is powered by a blockchain, or distributed ledger, which records transactions across thousands of computers. Bitcoin is kept private and safe by requiring additions to ledgers to be confirmed by solving a cryptographic challenge, a process known as 'proof of work.'
Where to buy
From your phone, Ziglu allows you to buy, hold, and sell bitcoin. Get started with bitcoin today by downloading the Ziglu app for as low as £1. In the United Kingdom, cryptocurrency is unregulated, and the value of assets might go up as well as down. Capital Gains Tax may apply to any gains produced.
- Overview
Bitcoin, the first and most well-known cryptocurrency, has grown in popularity (and market capitalization) since Satoshi Nakamoto founded it surreptitiously in 2009.
Price and market cap over last quarter
$50,667.65 - $38,059.90
$954.31B - $735.15B
Pros and cons of bitcoin
Pros: It's the most accessible cryptocurrency, as well as the one with the largest liquidity.
Cons: Beginner investors may be put off by Bitcoin's notorious volatility.
How it works
Bitcoin is powered by a blockchain, or distributed ledger, which records transactions across thousands of computers. Bitcoin is kept private and safe by requiring additions to ledgers to be confirmed by solving a cryptographic challenge, a process known as 'proof of work.'
Where to buy
From your phone, Ziglu allows you to buy, hold, and sell bitcoin. Get started with bitcoin today by downloading the Ziglu app for as low as £1. In the United Kingdom, cryptocurrency is unregulated, and the value of assets might go up as well as down. Capital Gains Tax may apply to any gains produced.
Ethereum (ETH)
Overview
Ethereum, the second most valuable cryptocurrency by market capitalization, has grown at an exponential rate since its introduction in 2015.
Price and market cap over last quarter
$4,311.67 - $2,497.72
$526.77B - $308.90B
How it works
Ethereum's objective is to establish a global internet in which anybody can build programs (similar to those found on Apple's app store) securely and anonymously. Ethereum is best known for creating smart contracts and boasting transaction rates quicker than Bitcoin. Ethereum is supported by a number of international companies, and a big update is now happening.
Pros and cons of Ethereum
Pros: - Ethereum is known for its speedy network and widespread support from major software and banking companies.
- Cons: Ethereum is known for its forking problems, which can occur when there are differences over how it should be utilized. This might cause instability, which may deter some investors.
Overview
Ethereum, the second most valuable cryptocurrency by market capitalization, has grown at an exponential rate since its introduction in 2015.
Price and market cap over last quarter
$4,311.67 - $2,497.72
$526.77B - $308.90B
How it works
Ethereum's objective is to establish a global internet in which anybody can build programs (similar to those found on Apple's app store) securely and anonymously. Ethereum is best known for creating smart contracts and boasting transaction rates quicker than Bitcoin. Ethereum is supported by a number of international companies, and a big update is now happening.
Pros and cons of Ethereum
Pros:- Ethereum is known for its speedy network and widespread support from major software and banking companies.
- Cons: Ethereum is known for its forking problems, which can occur when there are differences over how it should be utilized. This might cause instability, which may deter some investors.
Where to buy?
To purchase, hold, and sell Ethereum from your phone, download the Ziglu app today for as little as £1. In the United Kingdom, cryptocurrency is unregulated, and the value of assets might go up as well as down. Capital Gains Tax may apply to any gains produced.
- Bitcoin Cash (BCH)
Overview
Bitcoin Cash was developed in 2017 as a result of a bitcoin 'fork' by engineers looking to increase its speed and scalability.
Price and market cap over last quarter
$474.90 - $274.91
$9.09B - $5.40B
How it works
Because of the larger block size, transactions are confirmed faster on the network (61 transactions per second versus 7 for bitcoin), resulting in lower transaction costs for customers.
Pros and cons of Bitcoin Cash
Pros: Bitcoin Cash has higher scalability than bitcoin, which means it can handle more transactions and payments at the same time. The transaction costs are also significantly reduced.
Cons: Being in the shadow of bitcoin hurts Bitcoin Cash. It has less liquidity, value, and adoption than its older cryptocurrency sister.
Where to buy
Start your Bitcoin Cash adventure today by downloading the Ziglu app, which allows you to purchase, hold, and sell Bitcoin Cash from your phone for as little as £1. In the United Kingdom, cryptocurrency is unregulated, and the value of assets might go up as well as down. Capital Gains Tax may apply to any gains produced. - Litecoin (LTC)
Litecoin was first introduced in 2011 as a speedier and more efficient counterpart of Bitcoin, hence the term "lite" – or, in the words of its developer, "the silver to Bitcoin's gold."
Price and market cap over last quarter
$151.75 - $100.62
$10.27B - $7.46B
How it works
It, like Bitcoin, has a 'proof of work' consensus process and has a coin limit (Bitcoin's is 21 million coins, while Litecoin's is 84 million), which means that once the cryptocurrencies hit their limit, no more will be released.
Pros and cons of Litecoin
Pros: Litecoin, as one of the earliest cryptos on the market, has a long history in the top ten cryptocurrencies. It is well-known for its minimal transaction costs and fast processing times.
Cons: Litecoin has a few branding challenges (not least with grammar software claiming it's a typo for bitcoin), and it's lost a lot of respect since its inventor sold his interests in 2017.
Where to buy?
Invest in Litecoin today by downloading the Ziglu app, which allows you to purchase, hold, and sell Litecoin from the convenience of your phone, starting at £1. In the United Kingdom, cryptocurrency is unregulated, and the value of assets might go up as well as down. Capital Gains Tax may apply to any gains produced. - Cardano (ADA)
Cardano has been dubbed the "third generation crypto" since it improves on the technology that was first offered by Bitcoin and Ethereum.
Price and market cap over last quarter
$1.29 - $0.80
$40.5B - $28.5B
How it works
It has its roots in academia and combines a scientific and mathematical approach to transaction verification. By removing the competitive, problem-solving aspect of transaction verification found in platforms like Bitcoin, it provides a high level of security, reduces transaction time, and reduces energy consumption and environmental impact.
Pros and cons of Cardano
Pros: Cardano is regarded as one of the most ecologically friendly cryptos, and it is backed by a trustworthy team.
Cons: Cardano is still in its early stages, and while it has set its sights on several commendable accomplishments, the scope of work is enormous.
Where to buy
Invest in Cardano by installing the Ziglu app today to buy, hold, and trade litecoin effortlessly from your phone - starting at £1. In the United Kingdom, cryptocurrency is unregulated, and the value of assets might go up as well as down. Capital Gains Tax may apply to any gains produced.